Cash Advance on Credit Cards – Useful Yet Costly
What if you don’t have some extra money on your hand and you need some extra cash immediately? Well there are solution to that you could ask some friends to loan you some money, or you could get some cash advance on your credit cards.
A credit card is a plastic card that is used by people in order to purchase something may it be in their groceries, buying tickets, or on gas station it serves as an alternative for bringing big amount of cash with you.
These plastic cards are made for people’s convenience for they can bring it everywhere easily. There are many types of cards and they have their own advantages and disadvantages.
There is a card that you could get some cash advance on, usually most major companies and banks such as Visa, MasterCard, Discover and American Express offers the ability to get one.
This is very helpful for the card holders for if they will need some immediate cash they’ll just have to cash advance using their credit card. Here are some tips and advices about advances on credit cards that might help you.
First you must know the necessary things that you need to know about you credit card such as how much is the limit of your advance and your credit limit. It is important to know both limits so that you won’t go beyond it. Also you need to know your pin number especially when you will use it to get some cash advance on ATM machines.
If you want to get an advance you could just simply find an ATM machine and use your credit card to withdraw for you could use your card at almost any ATM. You will need to enter your pin also you might be required to pay some ATM fees.
If you don’t want to use and ATM you could also use your cash advance check to get some cash from your credit card. For you will periodically get some check on your apply online up to $2500 mail that is given by the card company and use it to get some cash advance.
If you don’t have one you could always try calling the number at the back of your card and ask them for the check and they will send it to you. But there will be charges when you use your check. The way use the check is to make a check to yourself and cash it out in your local bank in your state.
But before you get carried away with the cash advance you should know your fee first. You should know how much interest they are going to give you when you do cash advance so that you won’t get shocked when you see the bills.
Before getting this type of card or even using your cash advance then think first if you could handle the interest that they are going to give you. See if you could afford to pay for it if you are not sure then better not use your advance for it is more expensive than by just using your card to purchase something.